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Dick's settles with former Neb. worker over pay
Headline Legal News |
2011/02/03 09:56
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Dick's Sporting Goods Inc. has reached a settlement with a former employee over just payment for her work. Court records show U.S. District Judge Joseph Bataillon dismissed the lawsuit filed by Dannette Stackhouse, citing the settlement. Details were not disclosed. Stackhouse's attorney Peter Glennon declined to comment. A message left Wednesday for a Dick's attorney wasn't immediately returned. Stackhouse said in her lawsuit that employees were forced to work through breaks, were unpaid for overtime and were sometimes locked in the store until work was finished. Her lawsuit was filed on behalf of roughly 900 Dick's workers in Nebraska and sought class-action status. Stackhouse worked in the sporting goods retailer's Papillion location. Pittsburgh-based Dick's says it has more than 420 stores in 41 states, including three in Nebraska.
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BlackRock firm holds 6.6 pct of Berkshire B shares
Stock Market News |
2011/02/03 05:56
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BlackRock, the world's biggest money management company, says it holds nearly 7 percent of the Class B stock of Warren Buffett's company. BlackRock revealed Wednesday that it owns 68.4 million Class B shares of Berkshire Hathaway Inc. The New York-based money manager said in a filing with the Securities and Exchange Commission that it held the shares at the end of 2010. The stake will likely give BlackRock's investors little say in Berkshire because each of the company's Class B shares carries one-ten-thousandth of the voting rights of a Class A share. Omaha-based Berkshire owns roughly 80 subsidiaries, including insurance, clothing, utility, furniture, jewelry and corporate jet firms. It also has major investments in such companies as Coca-Cola Co., Washington Post Co. and Wells Fargo & Co.
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Maine federal judge lets class action in care suit
Court News |
2011/02/03 01:56
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A federal judge in Maine says 40 residents with cerebral palsy, epilepsy and other conditions can join a lawsuit seeking to force the state to provide opportunities for them to live outside nursing homes. On Monday, U.S. District Court Judge John Woodcock granted class-action status to a lawsuit filed by three men with cerebral palsy who want to live on their own but retain services provided by the Maine Department of Health and Human Services. In the lawsuit filed in December 2009, the three argued the state violated the Americans with Disabilities Act and the Nursing Home Reform Act because it failed to make it possible for them to live outside nursing homes. The Bangor Daily News says state officials couldn't be reached Wednesday because of the storm. |
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Bank of America Hit With Foreclosure Lawsuit
Court News |
2011/02/02 09:58
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Bank of America Corp. is the subject of a lawsuit that accuses the bank of hiding foreclosure problems that contributed to a drop in its share price. The suit, filed by a union benefit plan, says Bank of America concealed problems in its recording of mortgages, Reuters reported. This damaged investors when the company suspended foreclosure proceedings last year, the suit says. "We are reviewing the lawsuit and have no further comment at this time," said Bank of America spokeswoman Shirley Norton. Attorneys general in all 50 states are investigating foreclosure practices after accusations that lenders were using flawed paperwork to foreclose on homes. The suit is a proposed class action suit. The plaintiff purchases almost 25,000 Bank of America shares in a three-month period last year. The suit proposes a class made up of all who bought the stock between January 20, 2010 and October 19, 2010. |
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Dow has first close above 12,000 in 2 1/2 years
Stock Market News |
2011/02/01 14:57
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The Dow Jones industrial average has closed above 12,000 for the first time in 2 1/2 years — yet another sign that the economy is extending its recovery from the recession. Another big stock market index, the Standard & Poor's 500, reached a milestone of its own Tuesday. It closed above 1,300. Investors found plenty of reasons to send stocks sharply higher. Earnings reports from companies including Pfizer, UPS and Archer Daniels Midland were better than expected. And manufacturing had another good month in January. According to preliminary calculations, the Dow, which fell to a low of 6,547 in March 2009, soared 148 points, or 1.3 percent, Tuesday to 12,040.16. The S&P 500 rose 21, or 1.7 percent, to 1,307.59, its first close above 1,300 since August 2008. The Nasdaq rose 51, or 1.9 percent, to 2,751.19 Volume on the New York Stock Exchange came to 1.1 billion shares. Five stocks rose for every one that fell. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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